Drug suppliers PharMerica and Omnicare are relying on outside PR counsel as the latter continues its acquisition pursuit, kicked off in August with a $456M hostile bid rejected by PharMerica’s board.
Brinkmanship between the competitors eased somewhat in late October as the two companies, the No. 1 and 2 providers of drugs to hospitals and nursing homes in the U.S., agreed to share information under a confidentiality agreement to allay any anti-trust concerns that could arise from a combination. PharMerica cited regulatory scrutiny as a key objection to the initial takeover proposal.
Joele Frank, Wilkinson Brimmer Katcher is counseling Omnicare, while Sard Verbinnen & Company advises PharMerica.
Both Omnicare and Pharmerica volleyed criticism this week that the other is blocking a deal.
“To date, PharMerica has impeded progress and ignored the message sent by its stockholders,” said a statement released by Omnicare this week.